Masco Corporation Enters Into a Definitive Agreement to Sell Kichler Lighting

Masco Corporation has signed a definitive agreement to sell its Kichler Lighting business to an affiliate of Kingswood Capital Management for a purchase price of approximately $125 million, subject to customary adjustments.

Headquartered in Solon, Ohio, Kichler Lighting is a provider of decorative residential and light commercial lighting products, ceiling fans and LED lighting systems across both consumer and professional distribution channels. Kingswood Capital Management, a private investment firm based in Los Angeles, California, is the owner of Progress Lighting, also a provider of residential and light commercial decorative lighting solutions.

The transaction is expected to be completed prior to the end of the year, subject to customary closing conditions and regulatory approvals.